The Efficient Scale of the Firm Is the Quantity of Output

question 18

Multiple Choice

The efficient scale of the firm is the quantity of output that:

• A)maximises marginal product
• B)maximises average fixed cost
• C)minimises average total cost
• D)minimises average variable cost

---

Definitions:

Workforce Forecasting

The process of predicting an organization's future employment needs to plan accordingly for hiring, training, and development.

HR Supply

The availability of potential and current employees to meet the human resource needs of an organization.

Management Inventory

A comprehensive list or database of the management resources, skills, and capacities within an organization.

Specialized Duties

Tasks or responsibilities assigned to employees that require specific skills or expertise, often unique to a particular role or profession.